Madigan's millionaire tax is dead

Update, 6 p.m.: Mr. Brown confirmed that “time has run out” and the speaker no longer will pursue his millionaire tax this session.

Mr. Brown blamed the decision on the unanimous “lockstep” opposition of House Republicans. “The Republicans' decision to protect and defend millionaires pretty much puts an end to the speaker's efforts this cycle.”

In a statement, Senate GOP leader Christine Radogno said, "The Democrat majorities and their partner Gov. Quinn always try to blame someone and something else for their record high taxes, record high unemployment and record high government spending in Illinois."

She continued, "We are relieved this tax increase that would cost families and jobs has been beaten back. But now we must continue the fight against more Democrat tax increases on families and the businesses that put them to work. The Democrat majorities are still planning an assault on taxpayers that will make their temporary income tax increase permanent, create a tax structure that raises taxes on middle income families, tax soda and raise fees on job creators. That is always their ill-conceived solution to the problems they created in the state."

“It appears that the Republicans prefer protecting millionaires over the $1 billion for students in schools across the state,” Mr. Brown told the Observer. “We think that brings the debate on the millionaires amendment to a close for this session.”